Plains GP (PAGP) Cut to Sell at ValuEngine

Plains GP (NYSE:PAGP) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

Several other analysts have also recently commented on PAGP. Zacks Investment Research upgraded shares of Plains GP from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Robert W. Baird set a $20.00 price objective on shares of Plains GP and gave the company a “hold” rating in a research note on Thursday, October 12th. BidaskClub cut shares of Plains GP from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 17th. BMO Capital Markets set a $25.00 price objective on shares of Plains GP and gave the company a “buy” rating in a research note on Tuesday, October 17th. Finally, Barclays restated a “buy” rating and set a $26.00 price objective on shares of Plains GP in a research note on Thursday, October 19th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $25.88.

Plains GP (PAGP) traded up $0.07 during mid-day trading on Thursday, reaching $21.31. 4,302,477 shares of the company were exchanged, compared to its average volume of 1,974,995. The firm has a market cap of $3,299.70, a PE ratio of -4.60 and a beta of 1.39. The company has a quick ratio of 0.78, a current ratio of 1.00 and a debt-to-equity ratio of 0.84. Plains GP has a one year low of $18.98 and a one year high of $33.66.

Plains GP (NYSE:PAGP) last released its earnings results on Tuesday, February 6th. The pipeline company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.25). The company had revenue of $7.61 billion during the quarter, compared to analyst estimates of $4.91 billion. Plains GP had a positive return on equity of 0.73% and a negative net margin of 2.79%. sell-side analysts anticipate that Plains GP will post 1.56 earnings per share for the current year.

Several large investors have recently bought and sold shares of the company. Tortoise Capital Advisors L.L.C. increased its holdings in shares of Plains GP by 9.4% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 7,636,798 shares of the pipeline company’s stock valued at $167,017,000 after purchasing an additional 653,301 shares in the last quarter. UBS Asset Management Americas Inc. increased its holdings in Plains GP by 65.1% in the 4th quarter. UBS Asset Management Americas Inc. now owns 3,357,606 shares of the pipeline company’s stock worth $73,699,000 after acquiring an additional 1,324,404 shares in the last quarter. Atlantic Trust Group LLC increased its holdings in Plains GP by 32.0% in the 3rd quarter. Atlantic Trust Group LLC now owns 2,935,457 shares of the pipeline company’s stock worth $64,199,000 after acquiring an additional 711,518 shares in the last quarter. Center Coast Capital Advisors LP purchased a new stake in Plains GP in the 4th quarter worth $42,264,000. Finally, State Street Corp increased its holdings in Plains GP by 4.7% in the 2nd quarter. State Street Corp now owns 1,729,564 shares of the pipeline company’s stock worth $45,249,000 after acquiring an additional 77,866 shares in the last quarter. 83.18% of the stock is owned by hedge funds and other institutional investors.

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About Plains GP

Plains GP Holdings, L.P. owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. Through its three business segments, the Company is engaged in the transportation, storage, terminaling and marketing of crude oil, NGL and natural gas.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Plains GP (NYSE:PAGP)

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